3, LUTHER DRIVE, TIPTREE, COLCHESTER, CO5 0SQ - £370,000

The information on this page is based on a number of underlying datasets, most of which are updated monthly. We maintain an update schedule which explains which version of each dataset we are currently relying on.

3 LUTHER DRIVE is a small extended detached house of 97m², built sometime between 1996 and 2002, which could now be worth an estimated £427,401. It was last sold for £370,000 in June 2020, which was around 15% below the average June 2020 detached price in the Colchester local authority area. The most recent EPC inspection was April 2019, where the current energy rating was C, and the potential energy rating was A.

3 LUTHER DRIVE Sold Prices

Land registry data shows three sales for 3 LUTHER DRIVE since 1^st January 1995. The below table shows the price paid for the three sales, along with the average detached price in the Colchester local authority area for the corresponding sale date. All of the three 3 LUTHER DRIVE sales were for below the average price. The average price is sourced from the Office for National Statistics' House Price Index (HPI).

Date	Price	HPI Price	Variation from HPI
2020 2 JUN	£370,000	£434,790	15% below HPI
2014 1 APR	£237,000	£311,430	24% below HPI
2001 9 MAR	£129,950	£151,608	14% below HPI

3 LUTHER DRIVE Price Paid vs. HPI Average

The below graph shows the average detached house price in the Colchester local authority area over time, sourced from the HPI. The three 3 LUTHER DRIVE sales between March 2001 and June 2020 have been plotted on the graph. A line has been extrapolated to show what the value of the property might have been over time, following each sale, had it maintained the same margin above or below the HPI (as a percentage). For example, the April 2014 sale was for 24% below the HPI. So the extrapolation line tracks at 24% below the HPI over time, until the June 2020 sale, where it rises to 15% below the HPI. The line then continues to track at 15% below the HPI.

What might 3 LUTHER DRIVE be worth now?

3 LUTHER DRIVE might now be worth an estimated £427,401.

This is based on house price inflation of 15.5%, between June 2020 and February 2025, for detached houses, in the Colchester local authority area, as calculated by the Office for National Statistics and published in their UK House Price Index (HPI).

The 15.5% inflationary increase is applied to the most recent sale price for 3 LUTHER DRIVE of £370,000 on 2nd June 2020. For the value to have increased from £370,000 to £427,401 over the five years and four months to February 2025, the following assumptions must hold true:

• The value of 3 LUTHER DRIVE has moved in line with the HPI for detached houses in the Colchester local authority area.
• The June 2020 sale price of £370,000 represented a fair market value for the property.
• The size, condition, and specification of 3 LUTHER DRIVE has not materially changed since June 2020.

How Large is 3 LUTHER DRIVE?

3 LUTHER DRIVE is 97m², which includes one extension, according to the EPC inspection conducted in April 2019. This puts it in the smallest 40% of detached houses houses in Tiptree, based on EPC data. The below chart shows the distribution of detached houses houses by size in Tiptree, and where 3 LUTHER DRIVE lies on this distribution: 35% of detached houses houses are smaller than 3 LUTHER DRIVE, and 64% of houses are larger. Note that EPC data is not available for all properties in Tiptree.

3 LUTHER DRIVE: Plot and Title Map

3 LUTHER DRIVE sits on a plot of roughly 0.072 of an acre, or 291m². The below map shows the location of 3 LUTHER DRIVE, an approximate outline of the building(s), and the indicative extent of the property. The plot extent is a Land Registry INSPIRE Index Polygon, and it is important to note that a title may include more than one polygon, whereas only one polygon is shown on the map (the polygon which intersects with the position of 3 LUTHER DRIVE). The full extent of the land contained in any registered title can only be identified from the individual title plan. The maps on this page should not be relied upon to establish the extent of a title.

Where is 3 LUTHER DRIVE?

3 LUTHER DRIVE is located in TIPTREE, in the CO5 postcode district. The below map shows the position of No. 3 on LUTHER DRIVE.